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Venezuela Launches Own Bitcoin

Venezuela have announced that they will launch Petro; their own cryptocurrency in order to help the country’s failing economy. The government have said that every Petro coin will be backed by the value of a barrel of oil, and plans to circulate 100 million Petro coins, in order to raise $6billion. The president, Nicolas Maduro said; “Petro is born and we are going to have a total success for the welfare of Venezuela.” However, his optimism is not shared by all and opposing politicians argue that the virtual currency is actually illegal. This is because the country’s constitution states that...

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Japanese Exchange Gives Bitcoin Away Free

One cryptocurrency exchange in Japan inadvertently gave away free Bitcoins for approximately eighteen minutes. Zaif, an exchange that is operated by Osaka based Tech Bureau Corp revealed the blunder in a statement, where they revealed that a technical error was to blame, and that this had allowed many traders to purchase Bitcoin for 0 Yen, a fantastic deal when you consider that its market value is 1.2 million Yen. The glitch happened last week and lasted for eighteen minutes. Seven customers thought their luck was in when they could purchase the Bitcoin for the free rate, but before you think...

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Bitcoin Mining Will Have A Net Positive Effect On Energy Production And Usage Efficiency

Transition is always messy and often painful, whether we’re talking about the switch from the kind of horsepower with hooves to the kind with tires — or the birth of a profoundly transformational technology like Bitcoin. For Bitcoin, one transitional pang is its gargantuan appetite for energy. Electricity powers the computers that capture, verify and store the Bitcoin distributed ledger at thousands of mining nodes around the world. Critics like to point out that those mining operations use as much energy as a small country. They repeatedly point to a list of countries whose energy usage is roughly on par...

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Is This The Last Time In History We Will See Bitcoin, Ethereum, and Litecoin Prices Dip This Low?

With the recent recession in crypto prices by over 70% from their historic highs this past December, many were beginning to fear the worst for their cryptos (yet again). The markets are just now starting to pick back up to recovery levels some two months since the massive spike. For those who have been through the dips in prices in the past, this is no big change. But now that the crypto markets are proving to Wall Street and the entire global finance world (yet again) that they are able to sustain themselves against crashes, panics and FUD of epic...

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Bitcoin Regulation Boss Dies

The South Korean cryptocurrency regulation boss has been found dead at his Seoul home. Jung Ki-joon, the Head of the Economic Policy Coordination Office for the South Korean Government, was in charge of developing policies to regulate Bitcoin, is believed to have suffered a heart attack whilst he was sleeping. He was found be family members who went to wake him in the morning. He took up his role of leading the Seoul crack down on the cryptocurrency industry at the latter end of last year, and just last month his efforts were shown, as South Korea introduced a range...

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